In a significant development towards implementation of the Kaleshwaram irrigation project phase II, a consortium of lenders headed by Punjab National Bank has agreed to pitch in by extending a ₹11,400-crore loan.

This will enable the Telangana irrigation department to implement the project expeditiously.

The agreement to fund the project was inked by the representatives of various bankers in the presence of State Chief Secretary SP Singh and Special Chief Secretary, Irrigation, SK Joshi at State Secretariat.

Singh speaking on the development expressed that this was a major development towards implementation of the project.

The project, which seeks to create fresh ayacut in some of the parched districts of the State, will be a boon to the farmers when completed, Singh said. The project seeks to harness the untapped water from the Godavari system.

Monitored personally by Chief Minister K Chandrasekhar Rao, the irrigation project of significance is sought to be implemented in a time-bound manner, along with other irrigation projects.

Apart from drought-proofing the State, and bringing additional ayacut under agriculture, the State government is working towards ensuring drinking water supply to all villages in the State. Both Irrigation and drinking water supply have been taken up under two separate missions by the government.